by Larry MacDonald for Money Sense Magazine
Q: My fiancée Michelle and I are building a custom home together. We have a $1.5 million budget in mind but we’d like to go higher if we can afford to. Or should we actually be spending less? We need to make a decision and we’re not sure what to do. — Darren, Toronto
A: There is no doubt that you guys are in a unique position. Darren, you’re earning the entry level minimum this year, but hope your agent can negotiate a big contract next spring. Your career could last 10 years, but an injury or a bad season could easily cut things short. And it’s hard to say what your potential income-earning ability might be thereafter.
What Snowbirds Need to Know About Residency Rules
After another harsh winter, many Canadians dream of joining the large number of Snowbirds who make their way to the dry warmth of California, Arizona and Florida each winter season. If you are contemplating, or already are, becoming a Snowbird and whiling away the winter months in warmer climes south of the border it is important to understand how the new U.S. Tax laws apply under these circumstances. The last thing you would want is to find that the Internal Revenue Service considers you a US resident making you liable for U.S. income tax or subject to U.S. penalties or both.
Canada’s aging population is going to have a significant impact on our health care needs and costs. According to The Sun Life Canadian Health Index, 90% of Canadians anticipate a financial impact if they were to experience a major or chronic illness. Yet only 58% are financially prepared to cover the cost of a serious illness. Are you prepared?
We often hear about the need to provide for our families, and protect their financial security through the use of various insurance products. We’re always preparing for what happens when we die, or become ill. It’s important to plan for the inevitable, or the unfortunate, but let’s take a step back for a moment. Read more
Sharpen a dull memory with this creamy chip dip: hummus.
Eating foods rich in B vitamins and omega-3s, like hummus, can be a real memory booster, according to Samantha Heller, author of Get Smart. And these nutrients will be especially brain-friendly if you combine them with a few extra ZZZs.
The Hummus Health Benefits
Hummus is a Mediterranean staple made from vitamin B6-rich chickpeas and high-in-omega-3 olive oil — nutrients that Heller says are key to a swift, sharp memory. A spinach salad with a little drizzle of olive oil and vinegar will net you brain-friendly nutrients as well, because spinach is rich in B9. And tuna is another great source of both B vitamins and omega-3s. (Related: Eat your chickpeas whole with this Chickpea, Spinach & Squash Gnocchi recipe from EatingWell.)